7. SEGA Company reported sales revenue of P4,600,000 in the income statement for 2013. Additional information for the current year is as follows: Accounts Receivable Allowance for doubtful accounts Advances from customers January 1 1,000,000 60,000 200,000 December 31 1,300,000 110,000 300,000 The entity wrote off uncollectible accounts totaling P50,000 during the current year. Under cash basis, what amount should be reported as sales revenue for the current year? a. 4,900,000 b. 4, 250,000 c. 4,350,000 d. 4,400,000